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. >> regardless of how fiscal cliff negotiations work out, for the first time ever, the irs will impose a new income surtax on all investment gains including your home. 159 pages of rules for one tax. this cannot be good. here now is the author of the book democracy denied. 159 pages. am i right it is going to include gains on your home? in fact this rule looks like it is going to cover more ground than originally thought. this surtax? >> well, you still have an exclusion on the tail of a primary residence. above that, it would be subject to this surtax. independent income. the rules are surrising. all rental income, you are going to have to pay the surtax on that rental income. depending on what happens with fiscal inclusive, we could be looking at 43.4%. all of this stuff, income is going to go up. there is a 0.9% payroll tax for people above $250,000. explain this to me. these investments aren't they already tax ee eed once? when you put it into corporate assets, you put it into corporate stock. this is an additional layer of tax on already taxed income. to worsen that, worsens that
. >> regardless of how fiscal cliff negotiations work out, for the first time ever, the irs will impose a new income surtax on all investment gains including your home. 159 pages of rules for one tax. this cannot be good. here now is the author of the book democracy denied. 159 pages. am i right it is going to include gains on your home? in fact this rule looks like it is going to cover more ground than originally thought. this surtax? >> well, you still have an exclusion on the...
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cliff negotiations because evidently according the wall street journal this is one thing that perhaps john boehner and the white house can agree upon that for high income individuals they maybe shouldn't get this tax exemption. anymore how would this impact things oh it's just are very skewed to high income earners now are people in high tax brackets people at the very top get about probably twenty seven percent of the advantage the people in the one percent get about twenty seven percent my own view is that it will really not hurt the bond market the municipal market that much there is massive demand for these bond issuers annual issuances been shrinking year by year so there's less. you know in the end i don't think it's really that big a deal personally the states are going to have to give something up i mean they they don't want federal funds coming to them cut they don't want to cut you know something has to give in this fiscal cliff play the states have to contribute something to the to the you know to the party so you think that if if this tax exempt status of interest is curbe
cliff negotiations because evidently according the wall street journal this is one thing that perhaps john boehner and the white house can agree upon that for high income individuals they maybe shouldn't get this tax exemption. anymore how would this impact things oh it's just are very skewed to high income earners now are people in high tax brackets people at the very top get about probably twenty seven percent of the advantage the people in the one percent get about twenty seven percent my...
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Dec 9, 2012
12/12
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it does seem as though immigration will be the issue of next year once the fiscal cliff negotiations are over. we have heard from a number of republicans who think immigration reform may be easier to achieve a. in 2006, we had some very heated debate on that topic. at this point after an election where republicans lost the latino voters by a very large number, they are saying they would like to see immigration reform passed in some way. they will push it differently. >> i think governor peter shumlin is back. we were talking about immigration and global warming. did you want to finish your thoughts? >> what is right for vermont or massachusetts may not be bright for virginia or some of the other oil-producing producing states. i believe strongly that climate change is the single biggest challenge we face and we cannot move fast enough to do energy efficiency better. from the governor's perspective, it is a job creator. as we move to renewable and energy efficiency, which we have to do for climate change and because america cannot afford to continue to import oil that is $4, five buck
it does seem as though immigration will be the issue of next year once the fiscal cliff negotiations are over. we have heard from a number of republicans who think immigration reform may be easier to achieve a. in 2006, we had some very heated debate on that topic. at this point after an election where republicans lost the latino voters by a very large number, they are saying they would like to see immigration reform passed in some way. they will push it differently. >> i think governor...
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Dec 9, 2012
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it does seem as though immigration will be the issue of next year once fiscal cliffs negotiating are over, if ever. we've heard from a number of republicans who think that immigration reform might be easier to achieve this time. as you may recall, in 2006 and 2007 we had heated debates on that topic. but at this point, after an election where the republicans lost the latino votes by a large number they would like to see immigration reform pass in some way and they are going to approach it differently this time. >> we apologize for the live signals but we were talking about the immigration and the issue of global warming. did you want to finish your thoughts? >> sure. i want to say what is right for vermont, massachusetts, may not be right for virginia. having said that, we believe and i believe strongly that climate change is the biggest single challenge that we face and we can't move fast enough to do energy efficientcy better. the other point about that from the governor's perspective is it is a jobs creator. as we move to energy efficientcy which is good for climate change but ame
it does seem as though immigration will be the issue of next year once fiscal cliffs negotiating are over, if ever. we've heard from a number of republicans who think that immigration reform might be easier to achieve this time. as you may recall, in 2006 and 2007 we had heated debates on that topic. but at this point, after an election where the republicans lost the latino votes by a large number they would like to see immigration reform pass in some way and they are going to approach it...
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Dec 5, 2012
12/12
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i's an ipad, iphone fan. >>> another option on the fiscal cliff negotiating table being considered is raising the age when seniors can start receiving medicare to help ease our debt burden. what do you think, bob pisani? raise the age. is it a good idea? >> of course it is going to help us. we should consider that. that's the most likely thing on the cable. what i'm worried about here, it is very easy to say we'll save a bunch of money, pick a number, $6 billion or whatever the number if we take it off. where do the people go? those 65 to 67-year-olds will go into the private system where these exchanges we're going to have. they're likely going to pay more money there and the premiums are going to go up because of all those seniors. so it isn't free! that's my point. it is not just the government saves money, other people, those seniors are going to pay to be in those exchanges. >> there's no free lunch. >> nothing. >> i think there is good news that with this administration we don't have to worry about having another debate about privatizing social security. you and i, bob, are prob
i's an ipad, iphone fan. >>> another option on the fiscal cliff negotiating table being considered is raising the age when seniors can start receiving medicare to help ease our debt burden. what do you think, bob pisani? raise the age. is it a good idea? >> of course it is going to help us. we should consider that. that's the most likely thing on the cable. what i'm worried about here, it is very easy to say we'll save a bunch of money, pick a number, $6 billion or whatever the...
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Dec 8, 2012
12/12
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we can't negotiate with ourselves. >> here we are just weeks away from going over the fiscal cliff. you probably wonder what's going on in these houses in washington. they put themselves and their political gains first and put their future in prosperity second. hey, you voted them in. remember what happened the last time washington got into a budget battle like this? lawmakers put a band aid on the problem and the u.s. lost its aaa credit rating in the process. i warned you about the economic storm headed our way, partly because of europe and partly because of this fiscal cliff. i also told you about an american economic renaissance that could be just ahead. just beyond the storm clouds. the fiscal cliff is fixable. every day washington fails to make a deal, more damage is being done. john king, ken rogath is the former chief economist at the international monetary fund and diane swonk joins us from mezro financial. john, some people say don't sweat it. the threat of going over the fiscal cliff is overblown. it will get done in an 11th hour deal. as you read the politics at play, wh
we can't negotiate with ourselves. >> here we are just weeks away from going over the fiscal cliff. you probably wonder what's going on in these houses in washington. they put themselves and their political gains first and put their future in prosperity second. hey, you voted them in. remember what happened the last time washington got into a budget battle like this? lawmakers put a band aid on the problem and the u.s. lost its aaa credit rating in the process. i warned you about the...
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Dec 13, 2012
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host: how does social security factor into the fiscal cliff negotiation process? guest: the republicans put forward a plan in the last few weeks to change the way the annual cost-of-living adjustment is calculated for social security beneficiaries. the cost of living adjustments, known as the cola, it's the annual increase in benefits people get in their monthly payments. this coming year, next month in january their scheduled to get a 1.7% increase in benefits. that is based on a government measure of inflation, the consumer price index. specifically for so security, they use the consumer price index for urban wage earners. there's a new measure of inflation that the government has been considering for while called the change cpi. on average the social security administration tells us the cola would be 0.3 percentage points less than what it has been. so the 1.7% increase coming in january would be about 1.4%. last year the increase was 3.6% during that would be about 3.3%. that is the biggest effect of adopting this new measure of inflation that republicans put
host: how does social security factor into the fiscal cliff negotiation process? guest: the republicans put forward a plan in the last few weeks to change the way the annual cost-of-living adjustment is calculated for social security beneficiaries. the cost of living adjustments, known as the cola, it's the annual increase in benefits people get in their monthly payments. this coming year, next month in january their scheduled to get a 1.7% increase in benefits. that is based on a government...
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Dec 7, 2012
12/12
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now, economists say these numbers are huge for fiscal cliff negotiations. they back president obama's argument that the economy is doing well enough to handle attack -- handle a tax hike for wealthier americans. >> the fact that this this report is strong, i think puts a little bit of wind in his sails. >> reporter: john boehner is holding a news conference here on capitol hill. he's now lead -- he's now leading the negotiations with president obama. we will show -- we will show you -- tell you what he has to say coming up next hour. >>> starting next year, apple will start making some of its products here in the u.s. apple's ceo tim cook says one of its manufacturing operations will be moved here from china. it's not clear where that assembly plant will be. that announcement comes as criticism is mounting. >>> well, clorox corporation has a deal with a san diego- based investor to sell its headquarters building in downtown san diego. west core properties agreed to buy the 24-story building on broadway. the terms of the deal, that has not been disclosed. bu
now, economists say these numbers are huge for fiscal cliff negotiations. they back president obama's argument that the economy is doing well enough to handle attack -- handle a tax hike for wealthier americans. >> the fact that this this report is strong, i think puts a little bit of wind in his sails. >> reporter: john boehner is holding a news conference here on capitol hill. he's now lead -- he's now leading the negotiations with president obama. we will show -- we will show you...
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Dec 10, 2012
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. >> the fiscal cliff negotiations are getting very little attention. we will drill down on the estate tax levy later in the hour. >>> why is jc penny stock higher today? and apple shares getting cut. are these the right call? well analyze this and more after this. she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, se
. >> the fiscal cliff negotiations are getting very little attention. we will drill down on the estate tax levy later in the hour. >>> why is jc penny stock higher today? and apple shares getting cut. are these the right call? well analyze this and more after this. she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's...
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Dec 11, 2012
12/12
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wile we focus on the fiscal cliff negotiations, or more appropately the iasse many our state governments aren't in much better shape. state pensionsystems, unfunded liabilities are now estimated to be in the range of $2.5 trillion to almt $4 trillion. leading is california witmore than $370 billion in unfunded pension liabilities, only 47% are currently fued. a pension debt per household in california of aost $30,000. illinois close behind, $167 billion in unfundedliabilities, 28% funded, and th state pension debt per household amounting to over $34,000. in municipal bonds illinois sold over $5illin bonds this year making it the third biggest debt issuer in the first tee arters this year. california and new york, numbers e and two with. the issue of unfunded pension liabilities with the passage of right-to-work laws is a subject that i'm going to be taking up with our next guest. -@mallory fctor, author of can the bestseller, "shadow boxes: government nioos control amera and rob taayers blind." we are delighted to have you with us. let's turn first, if i may, to the presiden telling auto
wile we focus on the fiscal cliff negotiations, or more appropately the iasse many our state governments aren't in much better shape. state pensionsystems, unfunded liabilities are now estimated to be in the range of $2.5 trillion to almt $4 trillion. leading is california witmore than $370 billion in unfunded pension liabilities, only 47% are currently fued. a pension debt per household in california of aost $30,000. illinois close behind, $167 billion in unfundedliabilities, 28% funded, and...
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Dec 6, 2012
12/12
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fiscal cliff negotiations, don't you think they would proceed a lot faster and smoother if both sides were really dealing with reality? but, you see, the republicans, they simply are not. house speaker john boehner and senate minority leader mitch mcconnell have spent years catering to the base that believes, let's say, president obama's a socialist, and the united nations wants to take your disabled child right out of your home. they have votes to back it up, folks. this pitiful display of most senate republicans on the disability treaty showed once again just how far they are, and how far they are removed from reality. one democratic senator told me yesterday his office was actually getting calls from constituents with disabled children wanting to know if the u.n. would remove their children from their homes. it is manufacturing fear in the lives of americans. sometimes it's just a bald-faced lie about the facts. here's the democratic and republican opening bids on the fiscal cliff. but the revenue side of the republican proposal just doesn't match up with reality. you can't get $80
fiscal cliff negotiations, don't you think they would proceed a lot faster and smoother if both sides were really dealing with reality? but, you see, the republicans, they simply are not. house speaker john boehner and senate minority leader mitch mcconnell have spent years catering to the base that believes, let's say, president obama's a socialist, and the united nations wants to take your disabled child right out of your home. they have votes to back it up, folks. this pitiful display of...
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Dec 11, 2012
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we're expecting house speaker boehner to give us an update on the fiscal cliff negotiations at any minute. in have been sberp rating the previous silence from the administration and speaker's office as a good sign real progress was being made. from what we have heard from our guests so far this morning there's a general sense of optimism a deal will be reached. perhaps not in a forum that's widely expected. that optimism seemingly reflected in the markets. we are up more than 100 point ossen the dow. >> i'm maria bartiromo along with brian sullivan. representative patrick mchenry, republican from north carolina. good to have you on the program. thanks for joining us. let's talk about where we are. what would you say? where are we in terms of a deal? >> not as bad as last week and not as bad as the week before. not really in a great position to get things done. the president's more interested in campaigning around the country and telling people to send twitter messages to me on my twitter account. i haven't really seen much. we haven't seen much in the way of phone calls either. that's wha
we're expecting house speaker boehner to give us an update on the fiscal cliff negotiations at any minute. in have been sberp rating the previous silence from the administration and speaker's office as a good sign real progress was being made. from what we have heard from our guests so far this morning there's a general sense of optimism a deal will be reached. perhaps not in a forum that's widely expected. that optimism seemingly reflected in the markets. we are up more than 100 point ossen...
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Dec 13, 2012
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or was it just these fiscal cliff negotiations that are going on right now? the inability to make a deal? >> it's the do-nothing congress, their inability to make this deal. the best thing for the economy would be to make a deal and get off the fiscal edge, right. but if they're not going to be able to do that, then bernanke is smart. and again, it's unprecedented for him to do that. it's smart for him to go in and continue to try to stimulate the economy. >> you know, it's one thing for him to say that he is very concerned about the fiscal cliff and what it would do to the economy. but then to back it up with this move. >> yeah. you got to give the guy a lot of credit. it might be his bid for a third term as fed chairman, frankly, because it is creative. it's unprecedented, and by the way, the europeans are now following his lead. >> what is the danger here? >> well, the danger is that we're creating a bit of a bubble with these low interest rates, just like we did, unfortunately, in 2003 and 2004 when greenspan kept interest rates low. and that created the
or was it just these fiscal cliff negotiations that are going on right now? the inability to make a deal? >> it's the do-nothing congress, their inability to make this deal. the best thing for the economy would be to make a deal and get off the fiscal edge, right. but if they're not going to be able to do that, then bernanke is smart. and again, it's unprecedented for him to do that. it's smart for him to go in and continue to try to stimulate the economy. >> you know, it's one...
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Dec 8, 2012
12/12
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cliff negotiations, as the end of the year approaches, but there are new questions this weekend about what will happen to the u.s. economy if washington fails to come up with the solution. and joining me now, angela mcglowan, a fox news political analyst and doug cornell, a former spokesperson for the democratic congressional campaign committee and a democratic strategist. great to see both of you. >> thank you, good to be with you. >> doug, you first, president obama and his weekly address this weekend says that democrats have some wiggle room on what they're willing to give to get a deal done. what are they willing to give? >> well, first of all, remember that as part of the budget control act the president signed into law about a trillion dollars in cuts and right now the president's priority is to pass a middle class tax cut and benefit 97% of small businesses, and that's the first priority and then, obviously, second part is to deal with the fiscal cliff and he's put entitle and spending cuts on the table and i think really, the issue here is whether republicans are going to be o
cliff negotiations, as the end of the year approaches, but there are new questions this weekend about what will happen to the u.s. economy if washington fails to come up with the solution. and joining me now, angela mcglowan, a fox news political analyst and doug cornell, a former spokesperson for the democratic congressional campaign committee and a democratic strategist. great to see both of you. >> thank you, good to be with you. >> doug, you first, president obama and his weekly...
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. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racing taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous economy and growth and we should go back to the clinton tax rates. what that really means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. i don't support that. i don't think that's a great idea. it would slow down the economy. >> when you look at economist's evaluations, it would slow down the economy. it would. there's no question about it. but if the problem is that we have
. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racing taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are...
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Dec 7, 2012
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., let's talk about the fiscal cliff negotiations and the politics of it. how do these numbers effect, if you feel it effects at all the ongoing negotiations? >> first, for the unemployment we would have heard that obama cooked the preelection numbers. and and, second, i'm glad that secretary solis said we don't need more push, particularly benefiting the unemployment and that's got to be part of the fiscal cliff negotiations that. is something that the republicans have to deal with. and i think the republicans and making sure that the debt ceiling is extended for a long time because the one thing that could hurt the economy even more than going off some curb or cliff or slope is if we had a rep tilgs of the debt ceiling battle that we had in 2011. >> so in your view right now, you think that we're past -- potentially past the tax reform question? it's about not the stimulus money but the debt ceiling negotiation and it's important because many communities are not impacted by private sector job growth and need the public sector jobs that the stimulus would
., let's talk about the fiscal cliff negotiations and the politics of it. how do these numbers effect, if you feel it effects at all the ongoing negotiations? >> first, for the unemployment we would have heard that obama cooked the preelection numbers. and and, second, i'm glad that secretary solis said we don't need more push, particularly benefiting the unemployment and that's got to be part of the fiscal cliff negotiations that. is something that the republicans have to deal with. and...
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Dec 13, 2012
12/12
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comments from house speaker john boehner on the ongoing fiscal cliff negotiations continuing to weigh on the market. boehner saying spending is the issue getting in the way of a deal. right now the dow is down 74 points. looks like maps on the iphone are headed in a better direction. this is the mover in google maps from the device, apple finally approve of the google its app store. the own attempt at maps was a massive disaster even lead to a rare apology from ceo tim cook. jobless claims fell for a fourth straight week. the market may be improving. marking the second lowest claims this year. you have a slow moving average. that is the latest from the fox business network giving you the power to prosper. ashley: breaking news from major league baseball. the associated press reporting texas rangers gm says josh hamilton has agreed to a contract with the l.a. angels. there you go. tracy: i'm shocked we are even talking about baseball in the middle of winter. ashley: hsbc moving on with the largest fine ever paid by a bank. $1.9 billion for the justice department to settle a money-laund
comments from house speaker john boehner on the ongoing fiscal cliff negotiations continuing to weigh on the market. boehner saying spending is the issue getting in the way of a deal. right now the dow is down 74 points. looks like maps on the iphone are headed in a better direction. this is the mover in google maps from the device, apple finally approve of the google its app store. the own attempt at maps was a massive disaster even lead to a rare apology from ceo tim cook. jobless claims fell...
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and more people trust him to handle fiscal cliff negotiations than speaker boehner to handle the pole. poll. is that why people feel he's going to win at least talking about taxes. >> one, the approval rating is very high. two, republicans go either way. whether republicans want to cut a deal and raise taxes just on the rich or whether they won't go with a deal on january 1st, you'll see taxes to rise on everybody. there's a feeling with democrats they're going to win and get what they want either way. this is trufrustrating republic. when i talk to republicans privately, they say this is hugest from trags. the speaker has put $800 billion on the table and said he would go higher than if the president would come along with spending cuts. >> how high are you hearing? >> it's unclear. i think he's just signaling a willingness which many republicans tell me will also end up being a move on the tax rates. but he can't go there with his caucus, unless he has the spending cuts that he can sell $800 billion in revenue, and we're going to get you $800 billion in spending cuts. democrats don't
and more people trust him to handle fiscal cliff negotiations than speaker boehner to handle the pole. poll. is that why people feel he's going to win at least talking about taxes. >> one, the approval rating is very high. two, republicans go either way. whether republicans want to cut a deal and raise taxes just on the rich or whether they won't go with a deal on january 1st, you'll see taxes to rise on everybody. there's a feeling with democrats they're going to win and get what they...
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Dec 8, 2012
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the president's refusal to budge in negotiations with the g.o.p. on fiscal cliff talks. joining me now university of chicago booth school of business professor and former chairman of the council of economic advisors under president obama, dr. austan goolsbee. dr. goolsbee, where is the stethoscope? come on, i see it there hello, good to see you, austin. >> hey, laura great to see you again. i painted the pictures why conservatives should figure it out and not be in despair. on the other side of the equation you have the president. let's say the president gets his tax hikes. you know, everyone thinks they are going to have higher taxes in the new year. so he gets tax hikes. but then what? i mean, the new normal that's being painted by your friends over at the oecd say our girls will probably be about 2.2%. 2% maybe if we're luck in next year. the new normal even with high taxes doesn't look good. >> yeah. let's hope it's higher than that i think it's going to be a bumpy 60 days in my view. fiscal cliff. as low as that 2% is. the awful state of the world right now is that
the president's refusal to budge in negotiations with the g.o.p. on fiscal cliff talks. joining me now university of chicago booth school of business professor and former chairman of the council of economic advisors under president obama, dr. austan goolsbee. dr. goolsbee, where is the stethoscope? come on, i see it there hello, good to see you, austin. >> hey, laura great to see you again. i painted the pictures why conservatives should figure it out and not be in despair. on the other...
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the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will be hurt t
the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for...
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i think that just discounting any probability we have a fiscal cliff, if we do, and negotiations brick down, then market i think will be way overpriced for the very difficult economy. we'll see in the first half of next year. lou: we might see it before the end of the year, if it is clear, this may be part of the game, they try to keep in am pickous to whether or not there will be a dial, that would be a slick portion of this negotiation. i do not know what to make of it. i do think this republicans are now incentivized to go over the cliff, and seek sequest raising sequestration in force. it gives republicans want they want, two-for-one spending cuts to tax hikes it gets intresting. >> it is, some of the commentary i've seen, suggestions that the president i talking about more x increases than spending cuts, that is -- >> 2 to 1. >> yeah contrary to the original agreement. lou: well imagine that. president turning things on its head, john silvio thank you. >> thank you. lou: and straightening us out. looking now at "new york times" bestseller list, i thought this week was really, news
i think that just discounting any probability we have a fiscal cliff, if we do, and negotiations brick down, then market i think will be way overpriced for the very difficult economy. we'll see in the first half of next year. lou: we might see it before the end of the year, if it is clear, this may be part of the game, they try to keep in am pickous to whether or not there will be a dial, that would be a slick portion of this negotiation. i do not know what to make of it. i do think this...
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Dec 13, 2012
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but bernanke says the economy afeds more confidence now because of the uncertain fiscal cliff negotiations in unshington. and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other main concern for the fed is inflation. but, scott, there's good news here. despite the trillions the fed eds pumped into economy, bernanke called the inflation tame, for now, projected 2%. elleelley: if the chairman of the fed is worried about the fiscal cliff there is nothing today that would have cheered ram up. a are less than two weeks away from the traditional prngressional holiday break, and noe republican speaker of the house and president obama seem no closer to a budget deal. as you know, if they don't come up with a spending compromise, most americans will see a hefty tax increase automatically on j
but bernanke says the economy afeds more confidence now because of the uncertain fiscal cliff negotiations in unshington. and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other...
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host: armstong williams, how do you see the fiscal cliff negotiations going? where do you see them going? guest: there is no doubt that the president signaled yesterday in his conversation to the speaker of the house, and no matter what the drumbeats of the politicians and activists may say to the media, there is no question he is committed to resolving this issue. you cannot resolve this issue bringing people back to certainty or to help business owners understand the liabilities they will face on january 1, 2013. there is no question that the president and the speaker will come to a compromise. back during the days of former president lyndon baines johnson and the senator leader at the time, some of the issues that are going on -- i will never forget when dirkson was talking to the president, and the president said we should meet this evening. the senator said i think we have reached our wit's end. johnson left the white house and met with the senator to show his commitment and said this is what we have to do. as a result of that meeting, they came to some d
host: armstong williams, how do you see the fiscal cliff negotiations going? where do you see them going? guest: there is no doubt that the president signaled yesterday in his conversation to the speaker of the house, and no matter what the drumbeats of the politicians and activists may say to the media, there is no question he is committed to resolving this issue. you cannot resolve this issue bringing people back to certainty or to help business owners understand the liabilities they will...
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Dec 13, 2012
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cliff negotiations. right now, dow down 76 points. fox news reports former republican senator hagel emerged at the leading con tender to be president obama's pick to be secretary of defense, according to several democrats briefed on the process. the same sources say senator john kerry is talked up within the administration as a more likely nominee for secretary of state over susan rice, the current u.s. ambassador not united nations. a new study suggests this christmas travel season could be the busiest in six years. aaa predicts more than 93 million americans hitting the highways over the holidays, just 400,000 people shy of the record set in 2006. we continue our count down to the closing bell with the woman who likes her politics the same hi way likes her martinis, shaken, not stirred. liz: no, a mojito, light on the rum, adam. get it right. >> you look like a vodka woman to me, i don't know. liz: never. can't deal with that. a rough year for jcpenney, but things changing. the stock popped, but now th
cliff negotiations. right now, dow down 76 points. fox news reports former republican senator hagel emerged at the leading con tender to be president obama's pick to be secretary of defense, according to several democrats briefed on the process. the same sources say senator john kerry is talked up within the administration as a more likely nominee for secretary of state over susan rice, the current u.s. ambassador not united nations. a new study suggests this christmas travel season could be...
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Dec 6, 2012
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as the negotiations move forward. let's bring in the panel. on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish the rich and perceived reward for base. doesn't put more money in the federal treasury. the republicans give in to this in spirit of compromise, i respect alan simpson. but this is a time for the republicans to say no to spending no, borrowing. no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but
as the negotiations move forward. let's bring in the panel. on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily...
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Dec 11, 2012
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. >>> there have been no public comments in the past couple of days about the "fiscal cliff" negotiations which may be a good sign. house speaker john boehner the president are the only parties negotiating right now and no details have leaked out. today congressional democrats will hold a press conference to urge republicans to preserve medicaid funding in the final deal. republicans say cutting entitlement benefits is necessary to curb the country's deficit. >> social security, medicare and medicaid, it is not even on the table. that is our message. >> whoo! >> in 15 cities across california workers and community leaders have been rallying including here in san francisco. they are urging congress to save social safety net programs and increase taxes on the wealthy. >>> south carolina's governor may have closed the door on comedian steve colbert's senate dreams. colbert has been urging fans to pressure governor nickie hailey into picking him for the senate seat to replace jim demint who is retiring. a poll shows colbert is the favorite in the state but the governor has not committed on hi
. >>> there have been no public comments in the past couple of days about the "fiscal cliff" negotiations which may be a good sign. house speaker john boehner the president are the only parties negotiating right now and no details have leaked out. today congressional democrats will hold a press conference to urge republicans to preserve medicaid funding in the final deal. republicans say cutting entitlement benefits is necessary to curb the country's deficit. >> social...
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Dec 13, 2012
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. >>> the blame game continues with the "fiscal cliff" negotiations. democrats and republicans are at a standstill over how to stop a flurry of year end tax increases and spending cuts. cbs reporter tara mergener explains how capitol hill is preparing for the worst-case scenario. >> washington, d.c., december 13, 2012. >> reporter: cbs news has learned lawmakers are receiving orders today to cut their own budgets 11%. it's congress' first encounter with the consequences of going over the "fiscal cliff." without a compromise, across- the-board spending cuts will kick in and taxes for all americans will go up on january 1. with little progress being reported, frustration is mounting on capitol hill. >> if we don't act, the economy will go over the cliff. not just our budget process. the economy will go over the cliff. >> reporter: the sticking points remain the same. the president wants higher taxes for the wealthiest americans. republicans are insisting on deeper spending cuts. >> republicans want to solve this problem by getting the spending line down.
. >>> the blame game continues with the "fiscal cliff" negotiations. democrats and republicans are at a standstill over how to stop a flurry of year end tax increases and spending cuts. cbs reporter tara mergener explains how capitol hill is preparing for the worst-case scenario. >> washington, d.c., december 13, 2012. >> reporter: cbs news has learned lawmakers are receiving orders today to cut their own budgets 11%. it's congress' first encounter with the...
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Dec 10, 2012
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president barack obama hits the road to talk to republicans about the fiscal cliff negotiations. >> all part of the road to the fiscal cliff we've been seeing now. what's the latest, eamon? >> to really push public opinion in his direction on the fiscal cliff talks. the president today making the argument that he's the guy in this debate that wants to lower american taxes. >> if congress doesn't act soon, meaning in the next few weeks, starting on january 1st, everybody's going to see their income taxes go up. it's true. y'all don't like that, huh? >> and you can tell how confident president barack obama knows how positive his polls are on his side of this issue. but on the game where he's campaigning publicly and negotiating privately. as you said meeting with john boehner at the white house yesterday. and clearly the president is meeting with republicans and then checking back with democrats. we see this pattern now a couple of times last week he met with or spoke to boehner. and then met with nancy pelosi, the democratic leader on capitol hill. today we're told he had a phone call on
president barack obama hits the road to talk to republicans about the fiscal cliff negotiations. >> all part of the road to the fiscal cliff we've been seeing now. what's the latest, eamon? >> to really push public opinion in his direction on the fiscal cliff talks. the president today making the argument that he's the guy in this debate that wants to lower american taxes. >> if congress doesn't act soon, meaning in the next few weeks, starting on january 1st, everybody's...
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and peter barnes with the latest developments on the fiscal cliff negotiations, but let's art in chicago with john, two very interesting situations continuing, drama over the fiscal cliff in d.c. and also this week we have the fed meeting. which is more important to the market? >> eventually it will be the fiscal cliff that is more important to the market, but make no doubt about it, the fed meeting with the announcement wednesday morning and wednesday afternoon is going to continue to support risk assets. you were talking about how the dollar is melting up for the fourth consecutive day. the federal reserve will make a very active effort to continue to support risk assets. whether they're equities or commodities. the metals market had a very positive day, recovering a bit with the damage done last week. risk assets are doing well, but over the fiscal cliff for sure in december. liz: the fed, the fed, the fed. they're not going to do anything, but they might announce some sort of easing that is what we constantly talk about and wonder because that has been the trade. with it had a decent
and peter barnes with the latest developments on the fiscal cliff negotiations, but let's art in chicago with john, two very interesting situations continuing, drama over the fiscal cliff in d.c. and also this week we have the fed meeting. which is more important to the market? >> eventually it will be the fiscal cliff that is more important to the market, but make no doubt about it, the fed meeting with the announcement wednesday morning and wednesday afternoon is going to continue to...
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so, in the after hours, it is interpreted as being a positive development in if fiscal cliff negotiations. >> and it was -- >> that's right. >> it was all day. at a point, you have to succumb to the reality that the people have information in hand, it's going to come to you after the fact. people get this stuff, it's a game of horse trading, as tim said. people are looking for resolution. the minute they get a whiff of it, this market is going higher. >> le whaf. >> i think that's right. it is a positive development. it is an indication they are inching towards a deal. but we have a long time to go before now and then and we might need a few more offers before we get there. nobody should think they are going to announce something tomorrow. as soon as i say they -- >> you'll get another leak. >> we are inching towards it here and at some point they're going to have a deal but this thing could blow up at any time, too. this is very tense stuff and a lot of people's political futures are riding on this. >> not to mention the country's. >> and that, too. >> eamon, thank you for the update. ea
so, in the after hours, it is interpreted as being a positive development in if fiscal cliff negotiations. >> and it was -- >> that's right. >> it was all day. at a point, you have to succumb to the reality that the people have information in hand, it's going to come to you after the fact. people get this stuff, it's a game of horse trading, as tim said. people are looking for resolution. the minute they get a whiff of it, this market is going higher. >> le whaf....
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cliff negotiations. two questions on that. one is, does that suggest that there is movement, so we're no longer talking about tax cuts or tax increases? and where is the administration, i know you guys have argued back that they have provided details on spending cuts, but are you prepared to offer more? today you have a letter from c.b.o.'s urging that spending cuts, entitlement adjustments and so forth be a multiple, a greater multiple than revenues. is the white house prepared to do more on that front? >> let me take your questions in relative order. first of all, i did hear what the speaker of the house had to say. and i would note that if there is one fact that should not be in dispute it ought to be this, the president, unlike any other party to these negotiations, has put forward detailed spending cuts as well as detailed revenue proposals. it is a simple fact that the president put those forward to the nat so super supercommittee in september of 2011. and that he again in the process of these nego
cliff negotiations. two questions on that. one is, does that suggest that there is movement, so we're no longer talking about tax cuts or tax increases? and where is the administration, i know you guys have argued back that they have provided details on spending cuts, but are you prepared to offer more? today you have a letter from c.b.o.'s urging that spending cuts, entitlement adjustments and so forth be a multiple, a greater multiple than revenues. is the white house prepared to do more on...
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cliff negotiations. >>> 7:36. software company founder john mcafee could soon return to the united states. his attorney says a guatemala judge has ruled that mcafee adetention in that country is illegal and he could be released as soon as today. mcafee was detained in guatemala last week after entering the country illegally to avoid police in belize who wanted to question mack afy about the fatal shooting of his neighbor. mca -- mcafee has said he wishes to return to the u.s. so he can live in peace. >>> continuing coverage on the shooting in portland, oregon. here's more. >> reporter: good morning, tori. the mall here is closed at this point while police continue their investigation and what motivated this young man to come in yesterday in a crowded mall, people were christmas shopping. we have video -- video. we can show you aerial as police converged on this location. witnesses describe him wearing a hockey style mask, dark cam mow, body armor as -- dark camo, body armor. witnesses say he walked into
cliff negotiations. >>> 7:36. software company founder john mcafee could soon return to the united states. his attorney says a guatemala judge has ruled that mcafee adetention in that country is illegal and he could be released as soon as today. mcafee was detained in guatemala last week after entering the country illegally to avoid police in belize who wanted to question mack afy about the fatal shooting of his neighbor. mca -- mcafee has said he wishes to return to the u.s. so he can...
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. >> brown: so it is this program that is now caught up in the fiscal cliff negotiations. >> right. and it's unique this time around. this particular end of the month is a clear-cuttoff time. we have-- . >> brown: in the past it was phased out. >> right. and as harry said in your piece pointed out this is really the worst time of the year for this to happen. so what we need to do now is not just say oh let's just extend them. i think everyone thinks something like that has to happen. and it needs to be for a period of time that will be humane for the millions of people unemployed. we still have a very high unemployment rate. i think it's time now to do some experiments. how do we combine the extensions with mandatory training to make sure that people are skilled up when they reenter the labor force and don't take this bad decision, in my view, of simply dropping out bdz why do you think we need to do those experiments now rather than just continue or extend. >> well, this is the time to do it. congress is focused on extension. let's focus them also on changing the program subtlyment
. >> brown: so it is this program that is now caught up in the fiscal cliff negotiations. >> right. and it's unique this time around. this particular end of the month is a clear-cuttoff time. we have-- . >> brown: in the past it was phased out. >> right. and as harry said in your piece pointed out this is really the worst time of the year for this to happen. so what we need to do now is not just say oh let's just extend them. i think everyone thinks something like that...
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Dec 5, 2012
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cliff negotiations. the mortgage interest deduction. government spending on this will reach $100 million by 2014, making it the third largest tax break on the books. who does it help? 41 million people. the most recent irs data showed that 41 million people claimed this deduction on their 2010 tax returns. the tax policy center says it tends to benefit upper middle class families the most. these bars show income in the circles the average savings. for those with incomes of less than $40,000 a year, their savings is $91, look at the people who make $250,000 and more. their average savings is about $5500. this benefits people most on both coasts and cities like chicago, with higher property prices, and we watch the fiscal cliff negotiations closely for what could happen next to this tax goody next year. >> here's the question i'm hearing people ask, if we go off the cliff here, how big a hit will we take on taxs? stand by, because i'm about to give you the closest answer i possibly can. to help me with tha
cliff negotiations. the mortgage interest deduction. government spending on this will reach $100 million by 2014, making it the third largest tax break on the books. who does it help? 41 million people. the most recent irs data showed that 41 million people claimed this deduction on their 2010 tax returns. the tax policy center says it tends to benefit upper middle class families the most. these bars show income in the circles the average savings. for those with incomes of less than $40,000 a...
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Dec 8, 2012
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now and the fiscal cliff negotiation. the back and forth between both sides hasn't been complimentary. quite the opposite, in fact, which means the country needs to prepare for what comes next. that would be automatic spending cups and the expiration of bush era tax breaks. the pentagon has been preparing, and as our john callan reports, so have families who have a whole lot to lose if a deal doesn't get done. >> reporter: jeremy connor, married father of two. >> i've worked recently for a very large defense contractor, and my wife works for that same defense contractor. >> reporter: he left that job after 18 years for more stability since the couple both worked in the same department. >> the discussion of the fiscal cliff just made sense for one of us to get out. >> you know, we didn't know what it looked like down the road, if we were even going to have jobs at all. >> reporter: pentagon's budget for the next ten years has already been flashed $500 billion, and could face another half trillion in automatic cuts if congr
now and the fiscal cliff negotiation. the back and forth between both sides hasn't been complimentary. quite the opposite, in fact, which means the country needs to prepare for what comes next. that would be automatic spending cups and the expiration of bush era tax breaks. the pentagon has been preparing, and as our john callan reports, so have families who have a whole lot to lose if a deal doesn't get done. >> reporter: jeremy connor, married father of two. >> i've worked...
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Dec 7, 2012
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so that's why in the fiscal cliff negotiations it would be counterproductive if congress cut invest. >>> in education and job training to "reduce the deficit" in a way that would impact future economic growth. we've got to fix the workforce investment, the job training system in the united states to prepare people for the types of jobs that ceo has. >> you've been there, you've had to forge deals between warring constituencies. fiscal cliff. what would the solution be if you were handling it? >> i like the idea of the president, john boehner, the key players, getting together with no staff in the room. the second thing, they've got to be guided by a couple of things. number one, what is best for the nation? not my party, not my philosophy, not necessarily my politics. number two -- >> you'd like it one on one. >> editd' i'd like it one on on discuss specifics in a one on one way. second, they may agree there should be short-term steps and long-term steps, i think we can get there. the nation is counting on them doing something significant. >> saints/giants this weekend? >> i've got t
so that's why in the fiscal cliff negotiations it would be counterproductive if congress cut invest. >>> in education and job training to "reduce the deficit" in a way that would impact future economic growth. we've got to fix the workforce investment, the job training system in the united states to prepare people for the types of jobs that ceo has. >> you've been there, you've had to forge deals between warring constituencies. fiscal cliff. what would the solution be...
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the standoff over the fiscal cliff. kwame holman updates the state of the negotiations and we talk with tennessee republican senator bob corker. >> ifill: jeffrey brown examines new concerns over syria's chemical weapons capability and what, if anything, the u.s. can do about it. >> woodruff: from florida, hari sreenivasan has the story of endangered coral reefs. many of them dying because ocean temperatures are rising and the waters are more acidic. >> i remember seeing fields of elk horn coral that you couldn't see through it and you couldn't see beyond it and those same areas are dead you know 99% dead. ♪ >> ifill: and we close with a remembrance of jazz great dave brubeck who died today, one day shy of his 92nd birthday. >> woodruff: that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs stati
the standoff over the fiscal cliff. kwame holman updates the state of the negotiations and we talk with tennessee republican senator bob corker. >> ifill: jeffrey brown examines new concerns over syria's chemical weapons capability and what, if anything, the u.s. can do about it. >> woodruff: from florida, hari sreenivasan has the story of endangered coral reefs. many of them dying because ocean temperatures are rising and the waters are more acidic. >> i remember seeing...
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president obama warned republicans not to try linking the fiscal cliff negotiations to an increase in the federal debt ceiling early next year. timothy geithner says the administration absolutely it prepared to let the economy go over the fiscal cliff unless the republicans accept higher tax rates on the healthy. and the southern philippines struggled to recover from a typhoon that killed nearly 300 people. and what does a day in the life of public buses, trains and subways look like? the answer is part of our science roundup online. hari sreenivasan has the details. >> sreenivasan: the image resembles a lite-bright time lapse. find those pictures and our conversation with a software developer who set out to sualize the 24-hour cycle of urban public transit systems. that's on our homepage. an international telecommunications conference in dubai aims to set new rules for the internet. what's at stake? we take a look in the rundown. and on making sense, economics correspondent paul solman argues both sides of the capital gains tax debate. all that and more is on our website newshour.pbs
president obama warned republicans not to try linking the fiscal cliff negotiations to an increase in the federal debt ceiling early next year. timothy geithner says the administration absolutely it prepared to let the economy go over the fiscal cliff unless the republicans accept higher tax rates on the healthy. and the southern philippines struggled to recover from a typhoon that killed nearly 300 people. and what does a day in the life of public buses, trains and subways look like? the...
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it -- he has been very involved in the fiscal cliff negotiations. before he was a senator, he was governor of virginia. before that, he was co-founder of nextell. stephen case was co-founder of america online. he is a rabid twitterer. i feel like i know all the details of your life. he is a relentless opponent of entrepreneurship. we are very fortunate to have these three panelists. they each get five to seven minutes. i think we will get through it. five to seven minutes to discuss the topic. we will have a conversation among us. then we will open it up to you. hopefully we will get to all the -- all of your comments and questions. we'll start with professor sullivan. >> i am delighted to be here this evening. not only because the topic is important and the panelists are interesting, but because this conference recognizes mort kaplan, somebody i am pleased to have the opportunity to speak on behalf of tonight. we're looking tonight at immigration policy and how it affects our -- our ability to attract high skilled immigrants. we're speaking of scie
it -- he has been very involved in the fiscal cliff negotiations. before he was a senator, he was governor of virginia. before that, he was co-founder of nextell. stephen case was co-founder of america online. he is a rabid twitterer. i feel like i know all the details of your life. he is a relentless opponent of entrepreneurship. we are very fortunate to have these three panelists. they each get five to seven minutes. i think we will get through it. five to seven minutes to discuss the topic....